Bankruptcy at Studio Behind Acclaimed Marvel Animation, Future Unclear

The world of Wakanda may soon face more than just fictional turmoil. Marvel’s Black Panther franchise—both on-screen and in animation—stands at a pivotal moment as the studio reshapes its storytelling future across film and streaming.

Following 2022’s Black Panther: Wakanda Forever, Marvel is deep in development talks for a third installment, reportedly slated for 2028. However, this next chapter is not expected to simply pick up where the sequel left off. Creative teams are weighing new directions, from reintroducing T’Challa through the Multiverse to exploring the rise of his son, Toussaint, as the next Black Panther. The challenge lies in balancing innovation with honoring the late Chadwick Boseman’s legacy, a cornerstone of the franchise’s cultural impact.

In Wakanda Forever, Marvel made the deliberate decision not to recast T’Challa, instead focusing on Shuri’s (Letitia Wright) grief and the kingdom’s journey through loss. Now, as the next phase of the MCU unfolds, speculation around who will inherit the Black Panther mantle continues to grow. Several names have surfaced as potential successors or alternate versions of T’Challa, but Marvel’s producers have emphasized that no casting or storyline has been finalized.

Amid these creative discussions, a separate project meant to expand Wakanda’s lore has hit a major setback. The Disney+ animated spinoff Eyes of Wakanda—an anthology exploring untold tales across Wakanda’s history—was among the last completed projects by Axis Studios, a Scotland-based animation company that has now filed for bankruptcy.

The studio’s collapse stemmed from pandemic-era disruptions, inflation, Hollywood’s dual strikes, and a reliance on delayed client payments. While the first season wrapped production before Axis’s closure and debuted as planned, the future of a second season remains in doubt. Without a new animation partner, Marvel’s ability to continue the series is uncertain.

“This is revealed in reports filed by the administrator which was appointed when the company collapsed,” wrote Forbes late last month. “They show that ‘the industry experienced a downturn in production commissions post-pandemic, particularly in the video gaming sector, which comprised the majority of the company’s client base.'”

They added: “‘The company was also impacted by the US writer strikes which took place from May to September 2023, and the related actor strike which ran until November 2023. These significantly pushed out production schedules.'”

The finale of Eyes of Wakanda, titled “The Last Panther,” teased a tantalizing connection to the films—hinting at a future incarnation of the Black Panther traveling through time to protect Wakanda from destruction. The episode positioned the series as more than just a side project—it was a bridge linking the animated world to Marvel’s larger cinematic narrative.

Now, with Axis gone and Marvel’s roadmap shifting, Wakanda’s stories—both animated and live-action—stand at a crossroads. Whether the mantle passes to T’Challa once more, to his son, or to a new hero entirely, the next return of the Black Panther promises to be both a continuation and a reinvention of one of Marvel’s most powerful sagas.

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